Brits cut back on cars to pay for holidays

British people would rather cut back on major purchases such as cars and sofas in order to pay for their annual holidays in Spain, it has been claimed.

Frances Tuke, a spokesperson for the Association of British Travel Agents (Abta), said holidays had fared relatively well in other recessions and are seen as an important and often essential expenditure.

In a recent survey by TUI, 88 per cent of people said they would rather give up something else than sacrifice their foreign holidays.

"They are certainly an area where people don't want to cut back on, they'd rather give up a brand new sofa or car rather their holidays," she commented.

Brits refuse to give up holidays

The majority of Britons are refusing to give up their hard-earned holidays in Spain, despite the prospect of a recession.

Research by the Co-operative Travel found that just seven per cent of people would consider cutting back on travel.

Although many people have jet to finalise their holiday plans, 65 per cent of those surveyed said they hope to travel abroad this year, Travel Weekly reports.

Trevor Davis, the company's head of retail distribution, commented: "Like a lot of people in the UK at the moment, many of our customers have concerns over the economy and job security and this is making it difficult for them to plan holidays in the short term.